Engel & Volkers
In what year was Engel & Völkers founded in Hamburg, Germany?
1977
What is the document that shows all the itemized costs associated with your real estate closing?
Closing Disclosure
What is the standard form used in California for making an offer to purchase residential real property?
Residential Purchase Agreement.
What does MLS stand for?
Multiple Listing Service.
What is the term for a lead generated from a past client, friend, family member, or business contact recommending you to someone else?
A referral
Approximately how many shop locations does Engel & Völkers have worldwide, in how many countries?
1,000+ in 35 countries
What is the illegal practice of mixing a client's trust funds with an escrow agent's personal or business operating funds?
Commingling
What is the section of the RPA that specifies the number of days the buyer has to complete inspections, review disclosures, and investigate the property?
Buyer's Investigation Contingency period in Paragraph 8.
What is the term for money a buyer deposits to show they are serious about purchasing a property?
Earnest Money Deposit
Name three marketing tools available to Engel & Völkers advisors.
What is the name of Engel & Völkers' global magazine distributed to showcase luxury properties and lifestyle content?
GG Magazine
Once this final chronological document is recorded by the county, the transaction is officially closed and keys are released to the buyer.
Grant Deed
What is the document that is not only the buyer's offer but also serves as the legally binding instructions that direct the escrow holder on how to handle funds and transfer ownership?
Joint Escrow Instructions
What is the legal relationship created when one person acts on behalf of another in a real estate transaction?
Agency
Name the Engel & Völkers resource available through the marketing department that can be customized for a seller consultation and used to help win more listings.
The Engel & Völkers Listing Presentation.
Approximately how many referrals were completed through the Engel & Völkers global network in 2025?
More than 2,300 referrals.
The 1974 Act that abolished kickbacks and unearned fees in real estate settlements.
RESPA
Real Estate Settlement Procedures Act
In the RPA, this specific paragraph states that the agreement itself becomes the Joint Escrow Instructions, which Escrow holder is to use along with any related Counter Offers and Addenda and any additional mutual instructions to close the escrow.
Paragraph 19 of the RPA
What does "PITI" stand for in a mortgage payment?
Principal, Interest, Taxes, and Insurance
What is the term for marketing a property to other agents before it officially goes on the MLS?
Coming Soon
What are the three Engel & Völkers core brand values?
Competence, Exclusivity, and Passion
This acronym applies when a foreign individual or entity sells a US property, causing escrow to withhold a percentage for the IRS.
FIRPTA
Foreign Investment in Real Property Tax Act
What is the clause in the RPA that must comply with California Civil Code 1671 ensuring that the amount agreed upon is reasonable and not punitive if the buyer defaults?
Liquidated Damages Clause
What are the five components of the bundle of rights?
Possession, Control, Exclusion, Enjoyment, and Disposition
In digital marketing, what does SEO stand for?
Search Engine Optimization